CFL, Known as China Financial Localization, which helps businesses fulfill the translation and legal requirements of local authorities in China as well as collaborate with their finance department headquarters. A special workspace has been designed for local staff to accomplish any kind of needs who are working in multi legal entities. Speed up your deployment in China with less budget and time. With agile and robust CFL implementation, it empowers your company with more predictive decisions from anywhere in real-time.

Key Features:

Chinese Voucher System Enhancement

In mainland
China, companies must comply with Chinese GAAP, even though their headquarters
may be operating in accordance with HGB, IAS or IFRS.

Golden Tax Integration

All businesses
operating are required to use a government-certified tax software referred to
as Golden Tax software for generating VAT invoices, VAT calculations, and
statutory tax reporting. Chinese government policies require all businesses to
issue all VAT invoices through the Golden Tax system.

The solution
provides a seamless integration between Microsoft dynamics Ax and the Golden
Tax software system. The Golden Tax integration also streamlines the process of
creating VAT invoices against documents generated by Microsoft dynamics AX.

Daily Reports

Three major
daily used reports include "Balance Sheet" "Profit & Loss
Statement" and the "Cash Flow Statement". And other legally
required reports such as "Fixed Asset & Depreciation Report"
"Foreign Currency Statement" "Bank Accounts Balance Report" and some other customization reports depending on specific scenarios.

Fixed Asset Management

According to
Chinese GAAP, the official principle of fixed asset depreciation is quite
different; it handles depreciation methods, depreciation year, and scrap value
for subsidiaries and headquarters simultaneously.

Workspace for Routine Process

Besides simply translating labels or
layouts to Chinese, our consultant experts fully understand Chinese culture and
local management methodology. We alter Dynamics AX modules and provide relevant
training to fill gaps between international standards and traditions and
culture of local employees and business partners.